The present invention relates to a card transaction system and method arranged such that an authorized value is previously given to a card so that a credit inquiry at each transaction is omitted.
Hitherto, the seller must make a credit inquiry to a card issuing company whenever a transaction is performed using a credit card or the like in order to confirm whether or not the transaction may be performed. Since a credit inquiry creates a cost, a method has been employed in which when a transaction amount is below a specified value, the transaction can be performed without credit inquiry. However, the specified value is usually judged to be one yen or larger (called a "zero floor limit") in order to prevent unlawful use. The credit inquiry has been performed in substantially all transactions under these circumstances.
However, the credit inquiry incurs costs including communication costs with the card issuing company and costs relating to determining the card user's credit standing. Therefore, a transaction involving a small amount of money may not bring the seller a profit. On the other hand, if the credit inquiry is not performed, unlawful use of the card may result. Thus, there arises an opportunity to provide a way to make credit inquiries at a low cost while improving security by minimizing the risk of limitless damage for the seller.